Thursday, January 17, 2008

Dharma Index

From Religious News Service:

Financial news powerhouse Dow Jones & Company has launched new "dharma indexes" to track the stocks of companies that observe the values of dharma-based religions such as Hinduism and Buddhism.

The Dow Jones Dharma Indexes are the first to measure dharma-compliant stocks and now track more than 3,400 companies globally, including about 1,000 in the U.S., according to the company. In addition to the global index, Dow Jones has created dharma indexes for the U.S., Britain, Japan and India.

Dharma Investments, a private faith-based Indian firm, partnered with Dow Jones to create the indexes. "The principle of dharma contains precepts relevant to good conduct, but also the implicit requirement of mindfulness about the sources of wealth--and therefore responsible investing," said Dharma Investment CEO Nitesh Gor.

Advisory committees of religious leaders and scholars will screen and monitor companies' environmental policies, corporate governance, labor relations and human rights, among other criteria. Companies from business sectors deemed un-dharmic, such as weapons manufacturers, pharmaceuticals, casinos and alcohol, are barred from the index.

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